2015 External Sector Report
June 29, 2015
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Format: Chicago
Summary
An unfinished policy agenda to reduce excess imbalances remains. Efforts by both surplus and deficit economies would be mutually reinforcing and support growth.
Several significant recent developments will affect external positions in 2015: sharply lower oil prices, cyclical divergence and different monetary policies among the major economies, and related currency movements. Those developments do not overturn the previous pattern of excess imbalances and associated policy agenda, but they will have significant effects and raise new issues.
Subject: Commodity prices, Current account balances, External sector, External Sector Report, Monetary policy, Oil prices, Real effective exchange rates
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